As noted, the Wolfson Group's managing director, Eli Levitin, says the family won't discuss its investing.As it turns out, Levitin himself has followed the Wolfsons in patronizing dubious brokers and their stocks.Back in 1997, he received warrants for -------------------------------------------------------------------------------- Page 6 15,000 shares of a D.H. Blair-sponsored company that marketed discounted chiropractic care.The warrants were Levitin's compensation for performing investor-relations services, said the SEC filings of the now-vanished company.......................................... In 2004, another failed company in which Levitin was an investor and adviser merged with a videogame-distribution business called Alliance Distributors Holding.The next year an SEC suit alleged that Alliance had been one of several distributors involved in a sales fraud scheme by executives at Take-Two Interactive Software (TTWO), publisher of the very violent, very popular gangster game Grand Theft Auto.Without making admissions, Take-Two executives settled the SEC suit, which had contended that in 2000 and 2001, Alliance's predecessor business Corner Distributors had let the Grand Theftpublisher park $10 million worth of games.Corner then returned them all after Take Two had falsely reported them as having been sold. (It might amuse Grand Theft Autodevotees to learn that Corner Distributors was involved in a real East Harlem numbers racket that produced a 1998 guilty plea by a patriarch of Corner's family owners.) Levitin has owned several investment ventures with Mel E. Lifshitz -- a class-action lawyer with the New York firm Bernstein, Liebhard and Lifshitz-and Ezra Y. Birnbaum, a Maserati-driving broker whom the SEC sued in Brooklyn's U.S. district court last year, alleging that Birnbaum allowed his employees at the Brooklyn brokerage firm Pond Equities to engage in "naked" short selling.

...

Levitin says that none of his investment activities "relate in any way to, or affect, the Wolfson family, nor do they relate to my position as general counsel of Acta Realty or any other Wolfson family entities............................................................................